Section 15(f) in The Orissa Housing Board Rules, 1970
(f)Conditions subject to which debentures may be issued - (i) The interest in the debentures shall be paid half yearly. The interest is subject to the payment of income-tax.(ii)The debentures shall be redeemable at par on the dates noted therein and the holder shall have no claim upon the Board for the interest accruing after the expiry of the term.(iii)Debentures which by reason of damage sustained have become unfit for circulation, shall be replaced at the request of the holder on surrendering the damaged or defaced debentures; provided that the essential marks for genuineness and identity, such as, the number, the amount, the rate of interest, the date and signature of the Chairman and the member of the Board are still recognisable. Fresh debentures shall also be issued to replace lost or destroyed debentures when in the opinion of the Board the fact of destruction is proved beyond doubt. When such proof is not produced or when in case of damage the essential marks on the debenture are lost and no longer recognisable, or when the debenture has been lost or has been mislaid a new debenture may be issued only after the debenture which is alleged to be missing or unrecognisable, has been advertised by the claims and in the manner specified by the Board and is not claimed by any other person.(iv)The re-issue of a debenture shall be made for the same amount under the same number with the addition of the word "Renewed". A fee of rupee one shall be charged for every renewed debenture thus issued.
